Cubic Receives $125 Million in Orders from the Pacific Rim
Cubic Defense Systems , the defense systems division of Cubic Corporation (NYSE: CUB), announced today it received several contracts totaling more than $125 million for combat training support requirements in the Asia Pacific region. These contracts range from five to six years duration and are fully funded. The contracts support Cubic’s existing regional work force and offer expansion opportunities in collective training, operations and maintenance, and certain program management and range modernization efforts.
In FY12 more than 50 percent of Cubic Defense Systems’ orders were from international customers. These new orders continue that trend and help diversify the company’s reliance on the United States market place.
Military Simulation, Modelling and Virtual Training Market 2014-2024
“These large orders from Asia Pacific reflect the confidence our long-standing customers place in Cubic’s professionalism, responsiveness, and high quality work force,” said Dave Schmitz, president of Cubic Defense Systems. “Today more than 50 percent of our work force is located outside the United States demonstrating our commitment to further expand the company’s already significant international business base.”
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Source : Cubic